Teledyne Technologies Inc. 2025年季度报告

FORM10-Q Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Part IFinancial InformationItem 1. Financial Statements TELEDYNE TECHNOLOGIES INCORPORATEDCONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) TELEDYNE TECHNOLOGIES INCORPORATEDCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)FOR THE FIRST QUARTER ENDED MARCH30, 2025 AND MARCH31, 2024 Table of Contents TELEDYNE TECHNOLOGIES INCORPORATEDNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)March 30, 2025 Note 1.General Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by Teledyne Technologies Incorporated(“Teledyne” or the “Company”) pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).Certain information and disclosures normally included in notes to consolidated financial statements have been condensed or omittedpursuant to such rules and regulations, but resultant disclosures are in accordance with generally accepted accounting principles in the In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments(consisting of normal recurring adjustments) necessary to present fairly, in all material respects, Teledyne’s consolidated financialposition as of March 30, 2025 and the consolidated results of operations, consolidated comprehensive income (loss) and consolidated Recent Accounting Standards In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09,Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to providedisclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid, disaggregated by jurisdiction. In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—ExpenseDisaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This standard requires public entities,on an interim and annual basis, to provide disclosure of specified information about costs and expenses in the notes to the financialstatements. The new standard is effective for fiscal years beginning after December 15, 2026, and interim periods with fiscal years Other ASUs issued but not effective until after March 30, 2025, are not expected to have a material effect on the Company’sconsolidated financial position, annual results of operations and/or cash flows. Note 2.Business Acquisitions 2025 Acquisitions Micropac During the first quarter of 2025, the Company acquired Micropac Industries, Inc. (“Micropac”) for approximately $51.2million incash, net of cash acquired. Micropac, founded in 1963 and headquartered in Garland, Texas, designs and manufactures microelectroniccircuits, optoelectronic components and sensor and display assemblies primarily for military, aerospace and medical applications.Micropac will be part of the Aerospace & Defense Electronics segment. The Company funded the acquisition from cash on hand. Optical Systems and Advanced Electronics Systems businesses During the first quarter of 2025, the Company acquired select aerospace and defense electronics businesses of Excelitas TechnologiesCorp. (“Excelitas”) forapproximately$706.4millionin cash, net of cash acquired, and subject to certain adjustments. The acquisition includes the Optical Systems (“OS”) business known under the Qioptiq brand based in Northern Wales, UK, as well as the U.S.based Advanced Electronic Systems (“AES”) business. The OS and AES businesses will be part of the Aerospace and DefenseElectronics segment. The Company funded the acquisition from available borrowings on the credit facility as well as from cash onhand. Goodwill resulting from the acquisition of the UK operations will not be deductible for tax purposes, and goodwill resulting® 2024 Acquisitions Adimec During the second quarter of 2024, the Company acquired Adimec Holding B.V. and its subsidiaries (“Adimec”) for $88.7million incash, net of cash acquired, and subject to certain adjustments. Adimec, founded in 1992 and headquartered in Eindhoven, Netherlands,develops customized